Ethereum (ETH) Price

$1,614.32

Ethereum (ETH) Price Today

The live price of Ethereum is $1,614.32 USD. In the past 24 hours, the trading volume of Ethereum was $7B USD, with a change of +1.39%. The current live price of Ethereum has changed by -4.50% from its 7-day high of $1,690.32 USD and by +4.85% from its 7-day low of $1,539.69 USD. With a circulating supply of $120,703,159.49 ETH, the market cap of Ethereum is currently $191.7B USD, marking a +1.58% change in the last 24 hours. Ethereum currently ranks 2 by market capitalization.

Ethereum (ETH) Market Data

Market Cap

$194.8B

24h Volume

$7B

Circulating Supply

120.7M ETH

Maximum Supply

Fully Diluted Market Cap

$194.8B

Liquidity Indicator

3.64%

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About Ethereum (ETH)

What is Ethereum (Ethereum)?

Ethereum is a revolutionary open-source blockchain platform that launched in 2015. It was built to create a decentralized “world computer” where anyone can build and deploy applications without central control. Ethereum supports smart contracts that automatically execute when conditions are met. Ethereum provides a programmable environment that supports smart contracts, which are self-executing code that runs when certain conditions are met. This functionality enables a wide range of applications, from financial transactions and supply chain management to authentication and beyond.

Ether (ETH), Ethereum’s native cryptocurrency, serves a dual purpose. It acts as a digital asset and as fuel to pay for computation and transaction fees on the network. This model not only secures the network by preventing resource abuse but also underpins Ethereum’s strong market position as the second largest cryptocurrency by market capitalization.

Ethereum has sparked several waves of innovation, including the ICO boom in 2017, the rise of decentralized finance (DeFi) in 2020, the NFT surge in 2021, and the growth of decentralized autonomous organizations (DAOs). With ongoing upgrades such as the shift to a proof-of-stake consensus mechanism and the implementation of sharding, Ethereum continues to address challenges related to decentralization, security, and scalability.

• Ethereum was launched in 2015 and aims to be a globally decentralized computer

• Supports smart contracts and decentralized applications

• Ether (ETH) is used as both a tradable asset and network fuel

• Currently, the second largest cryptocurrency by market cap with more than $350 billion as of 2024

• Sparked multiple innovation waves: ICO boom (2017), DeFi revolution (2020), NFT boom (2021), and rise of DAOs

What is Ether (ETH)?

Ether is the native cryptocurrency of the Ethereum network and the fuel that powers its transactions and smart contract execution. Moreover, it is used to pay for gas fees based on the computational work required for each operation. Validators stake a minimum of 32 ETH under the Proof-of-Stake system to secure the network. Ether serves both as a tradable digital asset and an essential component of Ethereum’s economic model.

•Used to pay for gas fees and execute smart contracts

•Validators must stake at least 32 ETH under PoS

•EIP-1559 (August 2021) introduced fee burning that reduces circulating supply

•Functions as both a digital asset and network fuel

•Acts as a market signal reflecting confidence in the Ethereum ecosystem

Ethereum functions not only as a medium of exchange but also as a pledge asset in its proof-of-stake mechanism. Validators must pledge more than 32 Ether to participate in block verification on the network. The EIP-1559 protocol, implemented in August 2021, introduced a burning mechanism that permanently destroys some transaction fees, reducing Ether's circulating supply and increasing its scarcity.

Ether can be purchased through major cryptocurrency exchanges like BingX or acquired by participating in network verification. As the second largest cryptocurrency by market capitalization, Ether's value reflects the market's confidence and expectations in the Ethereum ecosystem.

Who Created Ethereum?

Ethereum was first proposed by Vitalik Buterin in 2013 when he was just 19 years old. Buterin's vision emerged from the limitations he saw in Bitcoin, and he published a detailed white paper outlining a more versatile blockchain platform. Furthermore Gavin Wood and other co-founders, including Joseph Lubin, joined the project to enhance its technical design. The Ethereum team crowdfunded around $18 million in 2014 and launched the mainnet on July 30, 2015, marking the birth of the first Turing-complete blockchain platform.

•Proposed in 2013 by Vitalik Buterin, a Russian-Canadian programmer

•Key contributors include Gavin Wood (who wrote the technical yellow paper and developed Solidity) and Joseph Lubin

•Crowdfunded approximately $18 million in 2014

•Mainnet went live on July 30, 2015

•Inspired by the creation of projects like Cardano and Polkadot by former co-founders

How Many Ethereum Are There?

Unlike Bitcoin, Ethereum does not have a fixed supply cap. Moreover, the issuance rate is controlled by network dynamics and protocol upgrades. Furthermore, the EIP-1559 burning mechanism permanently removes a portion of transaction fees from circulation, reducing overall supply. The circulating supply fluctuates and as of 2024 it is estimated to be around 120 million ETH, though this number can change with network usage and upgrades.

• No fixed supply cap, unlike Bitcoin’s 21 million

• Estimated circulating supply is approximately 120 million ETH as of 2024

• Supply is dynamic and influenced by fee burning and network demand

• High network usage can result in more Ether burned than issued

• The long-term supply may even decline under heavy network load

Where to Buy Ethereum

Ethereum can be purchased through several channels, with centralized exchanges being the most straightforward method. Moreover, platforms like BingX offer user-friendly interfaces, robust security, and competitive fees. On the other hand, decentralized exchanges (DEXs) like Uniswap provide non-custodial trading options for those who prefer greater control over their assets. Crypto enthusiasts and buyers have a range of options based on their experience and geographic location.

• Centralized exchanges include BingX

• Decentralized exchanges like Uniswap offer non-custodial trading

• Peer-to-peer platforms provide direct trading between users

• Traditional brokers have started to offer crypto trading services

• On BingX: register, complete authentication, deposit funds, and place a trade on the spot market

What is the Difference Between Ethereum and Bitcoin?

Ethereum and Bitcoin are both pioneering blockchain projects, yet they serve different purposes. Bitcoin was created as a decentralized digital currency and is often called “digital gold.” Its scripting language is limited, which ensures security but restricts functionality. In contrast, Ethereum is a programmable platform that supports complex smart contracts and decentralized applications. Ethereum’s block generation time of 12–14 seconds is much faster than Bitcoin’s approximately 10 minutes. While Bitcoin emphasizes scarcity and value storage, Ethereum drives innovation through its versatile platform.

• Bitcoin focuses on value storage and simple transfers; Ethereum supports decentralized apps

• Bitcoin uses limited scripting; Ethereum supports Turing-complete languages like Solidity

• Bitcoin operates on a proof-of-work system exclusively; Ethereum moved to PoS in September 2022

• Ethereum’s block time is 12–14 seconds compared to Bitcoin’s 10 minutes

• Bitcoin has a capped supply of 21 million; Ethereum’s supply is dynamic with fee-burning mechanisms

What Are Ethereum Smart Contracts?

Smart contracts are self-executing programs that run on the Ethereum blockchain. They automatically execute when specific conditions are met, eliminating the need for intermediaries. Moreover, they provide full transparency and are immutable once deployed, ensuring that their terms cannot be altered. Smart contracts power a wide range of applications, from crowdfunding and financial services to supply chain management and decentralized governance. Ethereum smart contracts enable trustless transactions in a secure and efficient manner.

• Automatically execute when conditions are met

• Provide transparency and auditability of the code

• Are immutable once deployed on the blockchain

• Remove the need for trusted intermediaries

• Enable applications in DeFi, NFT minting, and DAO governance

Smart contracts have the following key characteristics:

• Automatic execution : Once the trigger condition is met, the contract code is executed simultaneously on all Ethereum nodes, ensuring consistent and unstoppable results

• Transparency : The code of the smart contract is publicly visible, and anyone can audit its logic, avoiding black box operations

• Immutability : Once deployed on the blockchain, smart contracts cannot be changed, ensuring the stability of the rules (unless an upgrade mechanism is specifically designed)

• De-trust : Participants do not need to trust each other to transact because contract execution is guaranteed by mathematics and cryptography

• Deterministic : The same input always produces the same output, making the outcome completely predictable

How Does Ethereum Work?

Ethereum operates as a decentralized network maintained by thousands of computers worldwide. It records all transactions on a shared ledger known as the blockchain. The Ethereum Virtual Machine (EVM) ensures consistent execution of smart contracts across all nodes. Furthermore, after transitioning from proof-of-work to proof-of-stake in September 2022, network security relies on validators who stake Ether. Every transaction requires a gas fee that compensates validators and prevents network abuse.

• Decentralized ledger maintained by thousands of nodes globally

• The EVM executes smart contracts uniformly across the network

• Transitioned from PoW to PoS in September 2022 for greater efficiency

• Gas fees are required to execute transactions and deter abuse

• Supports both externally owned accounts and contract-controlled accounts

What is Ethereum 2.0?

Ethereum 2.0 is a series of upgrades aimed at improving network efficiency, scalability, and security. It shifts the consensus mechanism from proof-of-work to proof-of-stake and introduces sharding to boost transaction throughput. These changes reduce energy consumption by about 99.95% compared to the old system. Furthermore, the upgrade is designed to increase transaction capacity from 15–30 transactions per second to thousands per second. Ethereum 2.0 positions the network to support a broader range of applications and higher global adoption.

• Consensus mechanism shifted from PoW to PoS (validators stake at least 32 ETH)

• Energy consumption reduced by roughly 99.95%

• Sharding aims to increase throughput from 15–30 TPS to thousands TPS

• Enhanced security through improved economic incentives for validators

• Future-proofs the network for a wider array of decentralized applications

What is the Ethereum Upgrade?

Ethereum upgrades refer to technical improvements made through Ethereum Improvement Proposals (EIPs) that enhance security, efficiency, scalability, and user experience. There are usually two types of upgrades. One is the consensus layer upgrade, which affects the block verification and network operation mode, such as changing from PoW to PoS. The other is the execution layer upgrade which affects smart contracts, transaction fees, and staking mechanisms.

The London Upgrade in 2021 introduced the fee-burning mechanism via EIP-1559. The Merge in 2022 switched the network to proof-of-stake, and the Shanghai Upgrade in 2023 enabled staking withdrawals. Additionally, the Dencun Upgrade in 2024 improved scalability with sharding technology. Upcoming updates like the Pectra upgrade in 2025 will further boost network performance and user experience.

Ethereum upgrades over the years:

• London Upgrade (2021): Introduce EIP-1559, change the transaction fee mechanism, enable some gas fees to be destroyed, reduce the inflation rate of ether, and improve the predictability of transaction fees.

• The Merge (2022) : Ethereum transitions from PoW (Proof of Work) to PoS (Proof of Stake), eliminating miners and switching to validators to maintain the network through staking ether, reducing energy consumption by 99.95% and enhancing cyber security.

• Shanghai Upgrade (2023) : Allows PoS validators to withdraw staked ether, improving asset liquidity and making more people willing to participate in Ethereum's staking mechanism.

• Dencun Upgrade (2024): Introduces EIP-4844 sharding technology to reduce Layer 2 transaction costs through blob transactions, improving blockchain scalability and paving the way for future full sharding technology.

These upgrades address the performance and efficiency of earlier versions of Ethereum in terms of technical architecture limitations. Transaction processing capacity has increased from 15-30 transactions per second to potentially thousands per second; network energy consumption patterns have also shifted from a high reliance on computing resources to a more economical proof-of-stake mechanism. From a technological development perspective, these changes have significantly improved the infrastructure of decentralized networks, providing more robust technical support for more complex decentralized applications.

What Are Ethereum Gas Fees?

Gas fees are the costs paid in Ether for executing transactions and smart contracts on the network. They serve as a measure of the computational work required. The EIP-1559 upgrade in August 2021 introduced a dynamic base fee that is burned, reducing the supply of Ether. Users can add a priority tip to expedite their transactions. Therefore, gas fees are essential for maintaining network security and efficiency.

• Paid in Ether and based on the computational complexity of operations

• EIP-1559 introduced a dynamic base fee and burning mechanism in August 2021

• Users can add a priority tip to speed up transaction processing

• Helps prevent network spam and compensates validators

• Pricing adjusts dynamically based on network congestion and transaction complexity

The primary function of the gas fee mechanism is to prevent resource abuse and deter potential attacks. By imposing a precise cost for each computational operation, Ethereum discourages malicious actors from launching high-computational-load transactions at a low cost while providing economic incentives for validators to maintain network security and efficiency. Gas fee pricing is dynamic and complex, influenced by factors such as network congestion, transaction complexity, and user-set gas prices. During peak periods, gas fees can rise sharply, prompting the development of layer 2 scaling solutions like Arbitrum and Optimism to lower transaction costs.

What is the Ethereum Token Economy?

The token economy of Ethereum centers on its native asset, Ether, which drives network activity and security. Unlike Bitcoin’s fixed supply of 21 million, Ethereum’s supply is dynamic and controlled by network mechanisms. The fee-burning mechanism creates deflationary pressure during periods of high activity. The shift to proof-of-stake locks up a significant portion of Ether, reducing liquid supply. Ether is used for gas fees, staking, DeFi collateral, NFT transactions, and more, collectively driving its market value. The following are the core elements of the ETH token economy:

• Supply mechanism of Ether: Unlike the total supply of Bitcoin (BTC) fixed 21 million, Ether has no supply cap. However, the EIP-1559 upgrade in August 2021 introduced the transaction fee destruction mechanism, which makes Ether likely to exhibit "deflationary characteristics". This mechanism significantly reduces the increase in the issuance of Ether. According to the network usage, the amount of Ether destroyed in some periods is even higher than the new published amount, which makes the supply of Ether gradually stabilize or even decline.

• The publishing and staking mechanism of Ethereum : After Ethereum 2.0 (The Merge), Ethereum transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Miners no longer obtain Ether through mining, but participate in network maintenance by pledging 32 Ether coins to obtain new Ether as a reward. This change slows down the supply of new Ether, and as Ether is locked in the PoS mechanism, the circulating supply is suppressed, affecting market liquidity.

• Uses of Ether : Ether plays multiple roles in the Ethereum ecosystem, including:

Gas fee payment : All transactions and smart contract execution on Ethereum require Ether as a fee.

DeFi collateral : Ethereum is widely used in decentralized finance (DeFi) protocols for lending, liquidity mining, and more.

NFT trading currency : Ethereum is the main trading currency on NFT markets such as OpenSea.

Staking Bonus : Ether can be used for PoS staking to earn Fixed Income.

Overall, the token economy of Ethereum is driven by factors such as supply reduction (EIP-1559), pledge lock-in (PoS), and strong demand (DeFi/NFT), making it highly value-driven.

What is an Ethereum ETF?

An Ethereum ETF (Exchange-Traded Fund) allows investors to gain exposure to Ether without directly owning it. There are two types of Ethereum ETFs: Spot ETFs, which hold Ether directly, and Futures ETFs, which track Ether futures contracts. Furthermore, in 2023 the US SEC approved several Ether futures ETFs, while spot ETFs are available in Canada and parts of Europe. Therefore ETFs lower investment barriers and attract institutional capital into the Ethereum market.

• Spot ETF (Spot Ethereum ETF): A spot Ether ETF allows investors to gain direct exposure to Ether (ETH) without having to purchase and store the cryptocurrency in a digital wallet. Unlike Ethereum futures ETFs that offer exposure only to futures contracts, spot Ether ETFs provide exposure to the underlying asset itself. Examples of spot Ethereum ETFs include:

ETHE (Grayscale Ethereum Trust)

ETHA (BlackRock iShares Ethereum Trust)

FETH (Fidelity Ethereum Fund)

ETHV (VanEck Ethereum ETF)

• Futures ETF (Futures Ethereum ETF): These ETFs track the price of Ether through futures contracts rather than holding Ether directly. In 2023, the US SEC approved multiple Ether futures ETFs indicating increased market acceptance of Ether.

The launch of these ETFs lowers investment barriers, increases market liquidity, and attracts institutional investors.

What Factors Affect the Price of Ether?

Ether’s price is driven by a range of factors including supply and demand, technological upgrades, and broader market trends. The fee-burning mechanism and staking reduce the effective supply while growing usage in DeFi and NFT markets increases demand. Major network upgrades such as The Merge and sharding improvements drive investor interest. Sharding enhances both efficiency and resilience by distributing the workload across multiple shards. This decentralized strategy lowers the burden on each node, optimizes resource use, and minimizes the risk of attacks or single points of failure. Macroeconomic conditions and regulatory developments also significantly influence Ether’s price fluctuations.

• Supply and demand: Fee burning and staking lock up Ether reducing supply

• Technological upgrades: The Merge and upcoming scalability enhancements drive demand

• Market trends: Growth in DeFi, NFT adoption, and institutional investment boost prices

• Macroeconomic factors: Global economic conditions and regulatory changes impact sentiment

• Correlation with Bitcoin: Price trends often move in tandem with overall crypto market trends

If you want to understand more about the causes of Ethereum’s volatility and how to interpret price fluctuations, you can visit the Ethereum historical price page for more information.

Is Ethereum a Good Investment?

Ethereum is a leading cryptocurrency with robust fundamentals and an active developer community. Its market cap exceeds $350 billion as of 2024, representing about 18% of the overall crypto market. Ethereum's price has surged from less than $1 in 2015 to peaks over $4,800. However, the market is volatile and regulatory risks remain. Therefore investors should thoroughly research Ethereum’s technical and economic fundamentals before investing.

Advantages:

Ethereum is the world's largest smart contract platform with a vast developer community and a thriving application ecosystem. The growth in decentralized finance (DeFi) and NFT markets has driven demand for Ethereum, supporting its market value. Its shift to proof of stake has introduced mechanisms like token burning and staking that reduce supply growth, enhancing its appeal as an investment. Other advantages of Ethereum include:

• Second largest cryptocurrency with a market cap of over $350 billion

• Historical growth from under $1 to over $4,800 at its peak

• Leading platform for smart contracts, DeFi, NFTs, and DAOs

Risk Factors:

The cryptocurrency market is highly volatile, and Ethereum's price can change sharply in a short time. Global regulatory uncertainty and technical risks such as smart contract vulnerabilities or cybersecurity challenges create further uncertainty. The rise of competing blockchains like Solana, Avalanche, and Cardano adds additional competitive pressure.

Before making an investment, it is crucial to fully understand Ethereum's technical fundamentals, economic models, and market dynamics. Resources such as the BingX Ethereum Price Prediction can provide valuable insights to help align your decisions with your personal financial goals and risk tolerance.

FAQ

What is Ethereum Layer 2?

Layer 2 solutions enhance Ethereum’s scalability by processing transactions off the main chain and then batching the results back on. Technologies like Optimistic Rollups and ZK-Rollups increase transaction throughput to thousands per second. These solutions can reduce gas fees to around 1% of mainnet costs. Therefore Layer 2 is vital for handling higher network demand and reducing congestion.

• Processes transactions off-chain and submits results on-chain

• Uses Optimistic Rollups and ZK-Rollups

• Increases throughput to thousands of transactions per second

• Reduces gas fees significantly

• Examples include Arbitrum and Optimism

What is the Relationship Between the NFT Market and Ethereum?

Ethereum is the backbone of the NFT market. It established standards such as ERC-721 and ERC-1155 that define digital asset uniqueness and verifiability. Furthermore, more than 80% of NFT transactions occur on Ethereum. Platforms like OpenSea rely on Ethereum’s robust infrastructure for secure and transparent NFT trading.

• Establishes NFT standards (ERC-721 and ERC-1155) for digital assets

• Over 80% of NFT transactions are conducted on Ethereum

• High trading volumes on platforms like OpenSea

• Supports diverse applications including art, collectibles, gaming, and virtual real estate

• Provides verifiability and decentralization of digital ownership

What are the Main Competitors of Ethereum?

Ethereum faces competition from other public blockchains such as Solana, Cardano, and Binance Smart Chain. Solana boasts extremely high throughput with tens of thousands of transactions per second. Furthermore Cardano focuses on academic research and sustainability while Binance Smart Chain leverages the strength of the Binance ecosystem. Although these platforms challenge Ethereum in various areas, Ethereum remains dominant thanks to its large developer community and continuous innovation.

• Solana: High performance with tens of thousands of transactions per second

• Cardano: Emphasizes research-driven development and sustainability

• Binance Smart Chain: Benefits from strong support within the Binance ecosystem

• Ethereum’s extensive ecosystem and active developer community give it an edge

• Ongoing upgrades and innovation maintain Ethereum’s market leadership

When is the Next Upgrade of Ethereum?

The next major upgrade, known as the Pectra upgrade, is expected in 2025. It was initially scheduled for April 8, 2025 but has been postponed to March 6, 2025 for further testing due to issues encountered in test environments. Pectra will introduce features such as account abstraction and bulk transactions while reducing gas fees. Pectra's technical updates target improvements in network efficiency, smart contract functionality, and staking mechanism optimization. Key upgrade projects include:

• EIP-7251: Increases the maximum staking amount per validator from 32 Ether to 2048, reducing the overall number of nodes and making the PoS network more scalable.

• EIP-3074: Enables ordinary wallets (EOAs) to perform smart contract-like functions such as bulk transactions and gas payments, enhancing the user experience.

• EIP-7702: Introduces an Account Abstraction mechanism that allows EOAs to be dynamically upgraded to smart contract wallets, improving security and flexibility.

Pectra will also strengthen the Layer 2 expansion plan, reduce gas costs, and optimize the operating efficiency of PoS nodes to enhance cybersecurity.

Information source

Official Website

Whitepaper

Ethereum (ETH) Price Converter

ETH to USD

1 ETH = $ 1,614.06

ETH to VND

1 ETH = ₫ 41,782,768.06

ETH to EUR

1 ETH = € 1,419.28

ETH to TWD

1 ETH = NT$ 52,494.33

ETH to IDR

1 ETH = Rp 27,220,311.99

ETH to PLN

1 ETH = zł 6,072.49

ETH to UZS

1 ETH = so'm 20,960,904.21

ETH to JPY

1 ETH = ￥ 229,831.80

ETH to RUB

1 ETH = ₽ 132,634.90

ETH to TRY

1 ETH = ₺ 61,367.08

ETH to THB

1 ETH = ฿ 53,840.34

ETH to UAH

1 ETH = ₴ 66,645.96

ETH to SAR

1 ETH = ر.س 6,055.99

All Ethereum historical price data

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By accessing and using this platform, you agree to comply with our Terms of Use.

For more detailed information, please refer to our Risk Disclosure Statement.